How to: Put a Realistic Value on Your Motorcycle
It’s not easy to put a price on your own motorcycle. Often, we grow emotionally attached to our bikes to some degree. It’s understandable, since for many of us, our motorcycles are directly linked to great memories and big adventures either alone or with friends. That emotional attachment is of little consequence to a new buyer, so when it’s time to sell, it’s all about business.
The Key Factors That Determine Motorcycle Value
Beyond merely supply and demand, motorcycle values are determined by the same core tenets that affect any used vehicle market, but with some unique factors at play. Start with the basics to assess the motorcycle’s value like the year, make, model, and trim. Other factors being equal, newer models tend to be worth more than older ones of the same model, but a bike’s mileage plays a big role in determining its worth, with higher mileage usually driving the bike’s value down.
For some bikes, mileage can impact value more than others. For instance, large touring bikes like the Honda Gold Wing are known to reliably travel hundreds of thousands of miles, and an example with 60,000–80,000 miles will still be very desirable. Conversely, a high-strung Ducati sport bike approaching an expensive service milestone will be more adversely affected by mileage.
How Modifications Affect Resale Value
Modifications to a motorcycle can either help or hurt its value. Tasteful upgrades like improved suspension components, LED lighting, or a decent aftermarket exhaust can boost appeal and value if they’re well-documented and reversible – particularly if you’ve kept the OEM parts. Meanwhile, chopped frames or a seller’s beloved custom engraving or airbrushed paint job may not appeal to other riders as much, and negatively affect its value.
Similarly, obvious crash damage or a branded title will demand a notably lower sale price, too. Sellers confident in their bike’s history may wish to invest in a report such as VINData that can show if a bike has a crash history, claims, title branding, or liens against it. Ensure that you have all of the relevant paperwork handy for a potential buyer to review, including the ownership – in your name. Nothing will stop a potential sale faster than a questionable backstory.
Seasonality and Location
Timing and location need to be factored into a motorcycle’s value, too. In places like Texas, Florida or California, seasonality plays a smaller role than it does in northern areas that get full-on winter. Trying to sell a motorcycle in the midst of a Minnesota deep freeze will be more difficult and likely result in a lower selling price than it will be if you can hold out until the spring thaw.
Private vs. Dealer
If a quick sale is your priority, selling to a dealer may be an option. Riders are often offended when they get a quote for a trade-in from a salesperson at a dealership. Take into account that this is their business and they need to resell the motorcycle at a profit, so their offers will generally be closer to wholesale value. The motorcycle will be cleaned, inspected, and repaired (if necessary) in order to bring it up to the standards required to market and sell it to another rider. The convenience of a trade-in has a price.
Selling privately takes more effort on your part but generally results in a higher transaction price if you take the time to prepare it for sale and can be patient.
Brand Reputation, Nostalgia, and Collector Appeal
Finally, there are sometimes more fickle things that can affect value, like nostalgia or brand name, too, and this can vary by segment. Traditionally, Harley-Davidsons hold their value better than very similar machines from the Japanese bike makers, or even Victory and Indian, due to the cachet of the brand. Likewise, within the adventure bike world, there is often a premium paid for a BMW GS over its competitors.
With a growing number of Baby Boomers reaching the end of their riding time, it is likely to affect values of classic machines that once commanded a serious premium. Even still, younger generations still seem willing to pay a premium for a 1960s Honda CB750 or ’70s Kawasaki Z1.
When Motorcycles Become Investments
In rare instances, some bikes become highly coveted collectibles that consistently increase in value. If you’ve got a Brough Superior, Crocker Twin, or Vincent Black Lightning gathering dust in your garage, you’re sitting on some major bucks. There are even modern machines that stand a good chance of defying depreciation. Desirable, limited-edition models like the Ducati Monster Senna, Ducati Panigale SP, and Harley-Davidson CVO Road Glide RR are produced in such low numbers that they are very likely to only go up in value.
Rarity can work for or against a motorcycle. Exclusive builds, aspirational classics or special editions with a limited production may command a higher price, but only if the bike appeals to the right audience willing to pay for its cache. Contemporary models no longer supported by the manufacturer with OEM parts can cause challenges, creating a smaller pool of potential buyers.
Use the Right Tools to Price Your Motorcycle
There’s a lot to consider when preparing your motorcycle for sale and maximizing its value. The good news is that several easy-to-use tools can simplify the process. Both J.D. Power and Kelley Blue Book (KBB) offer quick online valuation tools that provide estimated value ranges based on their market data. Cycle Trader’s extensive marketplace is also invaluable for seeing what similar motorcycles are actually selling for in your area. If you’re selling a rare or highly collectible bike, consider using Hagerty’s valuation tools, which draw on auction results to estimate market value.
Setting Your Asking Price and Closing the Deal
When it comes time to list your motorcycle, be realistic and consider setting your asking price 10-15 per cent above your target amount to leave room for negotiation. Achieving the highest value through a private sale often requires patience, time, and effort, but it typically delivers the best return.
Ultimately, your motorcycle is worth what a buyer is willing to pay. And remember, value isn’t always measured solely in dollars. In some cases, accepting a slightly lower offer may be worthwhile if it means a smoother transaction with someone who will appreciate the bike as much as you did.
Jeff Wilson